Joseph E. Stiglitz, “A Re-Examination of the Modigliani Miller Theorem,” Cowles Foundation Discussion Papers , Cowles Foundation for Research in . Joseph Stiglitz’s landmark work, “A Re-Examination of the Modigliani-. Miller Theorem.” Although these revisions are essential for the. American Economic Association. A Re-Examination of the Modigliani-Miller Theorem Author(s): Joseph E. Stiglitz Source: The American Economic Review, Vol.

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modivliani When requesting a correction, please mention this item’s handle: This allows to link your profile to this item. You can help correct errors and omissions. The American Economic Review, 59, You can help correct errors and omissions. Corrections All material on this site has been provided by the respective publishers and authors. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, reexaination each refering item.

If you are a registered author of this item, you may also want to check the “citations” tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation. Stiglitz, Joseph E, When requesting a correction, please mention this item’s handle: RePEc uses bibliographic data supplied by the jiller publishers. Strictly speaking, even if the two debt ratios are the same, the reexaimnation cost of capital of the comparable firm is not necessarily equal to that of the project unless the two costs of capital are identical functions of the debt ratio.

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Journal of Mathematical FinanceVol. In an imperfect market, the WACC may not have an absolute minimum between zero and percent debt. This allows to link your profile to this item. Download full text from publisher File URL: More about modivliani item Statistics Access and download statistics.

More about this item Statistics Access and milller statistics. We have no references for this item. In a perfect market with corporate taxes, given that the cost of debt is increasing and concave up and that the firm rebalances its debt, the cost of equity is an increasing and concave up function of the debt ratio if and only if the third derivative of the cost of debt is non-negative; otherwise, the cost of equity is increasing but its exact shape cannot be ascertained.

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A Re-Examination of the Modigliani-Miller Theorem

It milker allows you to accept potential citations to this item that we are uncertain about. In all cases, however, the cost of equity must be concave up initially. Also in this world, the weighted average cost of capital of the firm, WACC, is decreasing and concave down.

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A Re-Examination of the Modigliani Miller Theorem

A Re-Examination of Prospect Theory. General contact details of provider: General contact details of provider: Re-Examination and Its Consequences.

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EconPapers: A Re-Examination of the Modigliani-Miller Theorem

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